From the BBC site:Rescue as ship sinks off Lizard A British container ship is sinking in the Channel 40 miles south of the Lizard in Cornwall. All 26 crew of the MSC Napoli are abandoning ship and as yet there are no reports of injuries. Falmouth Coastguard is co-ordinating the rescue.

A Maritime and Coastguard Agency tug, the Anglian Princess, plus a helicopter from RNAS Culdrose, are heading towards the vessel.

British and French mount rescue after ship sinks18/01/2007 12:01LONDON (Reuters) - British and French rescue services have rushed to pick up 26 sailors forced to abandon their container ship after it began sinking in stormy seas in the Channel, the coastguard said.The MSC Napoli was on the French side of the Channel when "somehow she became holed on the starboard side and was taking water", a Falmouth coastguard spokesman said.One French and two British helicopters and one British and one French tug were en route to the scene in up to nine metre high waves.

I see she went down slap bang in the middle of the channel (49 deg 20'N 004 deg 34'W ) - thats going to cause mayhem when some of those boxes come to the surface. They tend to "float" just below or almost at water level until they eventually break open and sink.Glad i'm not on the bridge of anything in that area.